TEHRAN (AFP) – Iran's industry ministry plans to set new conditions for foreign investors that obliges them to export a portion of their products and services generated in Iran, officials and press reports said Wednesday.

"This is a new condition aimed at securing target markets," industry ministry spokesman Mohammad Karimi told AFP.

"It would take care of neglected international markets and open export destinations."

Press reports quoted Industry Minister Alireza Tahmasebi as calling on Economy Minister Davud Danesh-Jafari to ensure that any foreign investors in the mining and industry sectors export at least 20 percent of their products.

The new plan seems to have been inspired by Iran's dealings with French car-giant Renault, which was told to export 20 percent of the Logan L-90 compact saloon cars set to be made in the Islamic republic.

The joint venture, worth 300-million-euros (369-million-dollars), had been suspended by Iran in April pending an agreement on the new conditions, but last week Iran announced the deal can go ahead after the two sides resolved the export dispute.